Ownership and Management

This type of business is owned by one person and the easiest to set up.

• Partnership

• Sole Proprietorship

• Corporation

• Franchise

This type of business is owned by many people called stockholders.

• Sole Proprietorship
• Partnership
• Corporation
• Franchise

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Disadvantage: owner pays for everything

Advantage: easy to set up

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Disadvantage: share profits

Advantage: share skills and share risks.

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

Disadvantage: double taxation

Advantage: selling stock to raise money

• Sole Proprietorship

• Partnership

• Corporation

• Franchise

What is a form of business ownership in which 2 or more people jointly owns a business

• Sole Proprietorship

• Company

• Partnerships

• Limited Liability

What is liability?

• Owners of a business are personally responsible for business debts

• The government is responsible for business debts

• The community are responsible for business debts

• The government and the owners of the business both are responsible for business debts

What is it when a person's financial liability is limited to a fixed sum?

• Limited Liability

• Liability

• Ownership

• Legalizing

Which function of management involves creating goals, objectives, and ways to achieve them?

• Organizing
• Planning
• Controlling
• Leading

Name the function of management that involves monitoring how the business is performing.

• Leading
• Controlling
• Planning
• Organizing